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European Gas Edges Higher on Cool Weather

NATURAL GAS

TTF prices are supported by cooler than normal weather forecasts for NW Europe and stable imports supplies.

    • TTF DEC 22 up 2.2% at 126€/MWh
  • Weather forecasts suggest temperatures falling slightly below normal during the first week of December but could recover back to normal during week two of the outlook.
  • Norwegian supplies to Europe are today nominated at 327.1mcm/d while LNG import flows averaged just under 450mcm/d in the week to Nov 26.
  • Russian gas transit through Ukraine is steady at 42.4mcm/d and European storage is at 93.9% compared to the five year average of 83.5% at this time of year.

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